KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.

Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.

“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.

Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.

Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.

Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.

"I hope we can yield some results in the near future," he said.

Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.

After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.

Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.

Lim hopes that after visiting China, he could accelerate the materialisation of this objective.

On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.

Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.

Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.

"They will come in a week or two. When I am in Penang, I will discuss with them," he said.